The launch of the title, which will be sold to football clubs along with distribution to WH Smiths and other channels, marks Monkou's first move into establishing a magazine in the UK.
Monkou is a former Chelsea player and Dutch international. After his playing career ended, he moved into magazine publishing, launching titles in his native Holland and Dubai.
He had prepared to launch a magazine in the UK back in 2009, called Life after Football, but the project didn't get off the ground.
Football Life will have a print run of around 100,000 copies. All professional footballers in the UK can, if they want, receive a copy. It will also be available to 70% of WH Smiths in the country.
Football Life features a mix of "untold, human, stories" in the world of football.
It contains a mix of interviews with the some of the game's top players and behind-the-scenes personalities. It will have a cover price of £7.
Contributors include Patrick Barclay, contributor to the London Evening Standard, Henry Winter (The Telegraph), Matt Dickinson ( The Times) and Amy Lawrence (The Observer).
The debut issue of the title will come out on July 12 and the following issue will be published in October. Advertisers are thought to include a mix of sport and lifestyle brands.
There is a heritage of footballers launch launching sporting titles.
In 2009, Rio Ferdinand made his publishing debut with the launch of his bimonthly digital lifestyle magazine, called #5.
Former Liverpool star Phil Babb was editor-at-large at Football Punk, which was published by JF Media, the publishing company which folded after being crippled by debts of more than £1m.
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